Good Article about the risks when working with elderly clients

[Lee B]

Paste the following link into your browser for a good discussion:

http://www.journalofaccountancy.com/Issues/2014/Jun/20149801.htm

[JohnH]

Yes, a very good article. It got me thinking about my experience over the past few years. About 9-10 clients have died and I'm still preparing returns for the spouse now. I have 4 situations in which a rellative is bringing the client's info to me and I have copies of a durable POA on hand - 3 of them have full-blown dementia. I have another 2 or 3 for whom I have a POA in the file because although they still bring their info to me, they want me to keep an adult son or daughter informed about their tax affairs. My clients are getting old - good thing I'm staying young.

The article makes a great suggestion about being aware of the signs that a client is slipping, and bringing up the topic early. I think age alone is a good enough excuse to bring it up, unless there is a spouse still living. Sometimes it can be uncomfortable, but usually they are willing to talk with their tax preparer more quickly than with a relative. Better to get the conversation under way before it is too late, even at the risk of losing a client if they take it the wrong way.

[kcjenkins]

Sometimes it can be uncomfortable, but usually they are willing to talk with their tax preparer more quickly than with a relative. Better to get the conversation under way before it is too late, even at the risk of losing a client if they take it the wrong way.

Totally agree. They know you have no dog in the fight.